Could Ireland be this year's recovery play?

COULD IRELAND BE THE RECOVERY PLAY OF 2012?

Joanna Faith looks at whether now is a good time to invest in the first major euro victim of the credit crunch.

In 2008, Ireland became the first major victim of the endemic credit crunch that central banks and governments continue to grapple with today. Ireland’s ISEQ closed down 66% that year – the worst performance since the Irish Stock Exchange was founded in 1793. Last year, things went from bad to worse when the country was downgraded to ‘junk status’, a move that saw Irish 10-year bond yields soar to a record 14%. As we enter the fourth year of turmoil, the general outlook for the eurozone is still one of doom and gloom. Last month S&P downgraded nine member states including, Italy, Spai...